Closing report: The company that used to be MFI, Galiform, was a bright spot on an otherwise dull day for the market, with speculation that its underlying cash flows would be attractive to private equity buyers. By Nick Fletcher.

First-half losses on the retail side totalled more than £14m, with a further £25m on the manufacturing side. Only the £50m or so of profit from the Howden Joinery business, which new chief executive Matthew Ingle used to run, saved MFI from even worse disaster.

MFI revealed yesterday it has received "expressions of interest" in all or part of its loss-making stores chain from a number of potential buyers, which are thought to include private equity firms. The DIY chain Homebase could also be interested.